Q2 In the early 2000s Berhad ran into severe financial difficulties due to mistakes its management had made in the computer leasing business in which it operated. Between 2015 and 2019 it made large operating losses and had to stop paying dividends. However, in 2020 a new management team was installed in the company - at the instigation of the institutional investors and non-executive directors. The new management turned the company around by restructuring its business and focusing on the institutional leasing of construction equipment and the company is once again profitable, As a result, at the board meeting held recently at the end of the company's financial year - which had seen a further increase in profits - the directors discussed whether or not the company should resume paying dividends. However, opinions were divided. The chairman thought that a stable dividend policy should be introduced as quickly as possible. The finance director thought that dividend policy was unimportant as he remembered quite clearly from his MBA finance course that dividend is irrelevant Finally, the treasurer (who also acted as the chief accountant) was of the opinion that the company should only pay an annual dividend if there were not sufficient profitable projects available to absorb all the company's earnings. Thus, the amount paid out in dividends should purely be residual. Required: Discuss THREE (3) dividend policies with special reference to the comments made by board members of C Berhad (15 marks)